Sanders Morris Harris LLC Has $430,000 Stock Holdings in Loews Co. (NYSE:L)

Sanders Morris Harris LLC boosted its stake in Loews Co. (NYSE:L) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,494 shares of the insurance provider’s stock after buying an additional 494 shares during the quarter. Sanders Morris Harris LLC’s holdings in Loews were worth $430,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of L. Wellington Management Group LLP raised its stake in shares of Loews by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 20,526 shares of the insurance provider’s stock valued at $1,428,000 after acquiring an additional 145 shares during the last quarter. Lindbrook Capital LLC raised its position in Loews by 41.4% in the 4th quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 179 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in Loews by 0.5% in the fourth quarter. Chase Investment Counsel Corp now owns 36,553 shares of the insurance provider’s stock worth $2,543,000 after purchasing an additional 190 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Loews by 4.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,839 shares of the insurance provider’s stock valued at $337,000 after buying an additional 199 shares in the last quarter. Finally, Optas LLC raised its holdings in shares of Loews by 4.2% in the fourth quarter. Optas LLC now owns 7,935 shares of the insurance provider’s stock valued at $552,000 after buying an additional 320 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Price Performance

NYSE L traded up $0.11 on Friday, hitting $76.56. 1,889,850 shares of the company were exchanged, compared to its average volume of 750,283. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market cap of $16.95 billion, a P/E ratio of 11.36 and a beta of 0.85. Loews Co. has a 1-year low of $57.55 and a 1-year high of $78.55. The firm has a 50 day moving average of $75.75 and a two-hundred day moving average of $74.07.

Loews (NYSE:L) last released its quarterly earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%. The business had revenue of $4.23 billion for the quarter.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.33%. The ex-dividend date was Wednesday, May 29th. Loews’s dividend payout ratio is 3.71%.

Insider Buying and Selling

In other news, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the completion of the sale, the insider now owns 507,799 shares in the company, valued at approximately $39,222,394.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 150,000 shares of company stock worth $11,588,500 over the last three months. 18.70% of the stock is currently owned by company insiders.

Loews Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.